(MENAFN- The Peninsula) Qatar banks' loan book was broadly flat in May 2015 after declining by 0.5 percent in previous month. On the other hand, deposits grew by 1.7 percent month-on-month in May. The public sector, once again pulled down total credit growth with a decline of 1.7 percent month-on-month Vs a drop of 4.7 percent in April. The credit growth in the public sector declined by 7.6 percent year-to-date (YTD).
The QNB Financial Services' (QNBFS) monthly banking sector update yesterday noted that Qatar's public sector deposits rebounded by 3.5 percent MoM Vs a drop of 4.8 percent MoM in April. Delving into segment details, the government institutions' segment climbed up by 6.8 percent after contracting by 8.3 percent in April, dropping by 6.6 percent and expanding by 12.8 percent in March and February 2015, respectively.
Moreover, the semi-government segment followed suit and expanded by 7.1 percent , from 1.9 YTD growth.
The government segment posted weak performance, sliding by 6.0 percent and down 10.2 percent YTD. On the Private sector front, the companies & institutions' segment climbed up by 2.7 percent MoM. The consumer segment displayed flat performance. Non-resident deposits dipped by 2.0 percent , but up42.6 percent YTD.
The overall loan book showcased flat performance in May. Total domestic public sector loans continued its negative trajectory, declining by 1.7 percent vs. a drop of 4.7 percent MoM in April 2015. The government segment's loan book contracted by 2.4 percent and down 21.0 percent YTD.
The government institutions' segment , that represents 64 percent of public sector loans, slipped by 1.9 percent falling 1.6 percent YTD, after exhibiting positive performance in April.
On the other hand, semi-government institutions' segment exhibited flattish performance in May, down 6.4 percent YTD. Hence, the government sub-segment pulled the overall loan book down for the month of May 2015.
Private sector loans grew by 2.2 percent MoM vs. 1.9 percent MoM in April 2015. The Real Estate followed by the Contractors segments positively contributed toward the loan growth.
Loans to the Real Estate segment, which contributes an estimated 26 percent to private sector loans, grew by 2.2 percent and 2.4 percent YTD, while loans to Contractors expanded by 5.3 percent and 13.0 percent YTD. Meanwhile, Consumption & Others segment that contributes 31 percent to private sector loans displayed flattish performance. On the other hand, Services sector dipped by 1.3 percent, but is up by 4.0 percent YTD.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.